Change #3 Full Retirement Age Reaches 67 for Those Born in 1960 or Later

What Changed

One of the most structurally significant Social Security changes of 2026 is the finalization of the full retirement age (FRA) at 67 for individuals born in 1960 or later. Full retirement age is the age at which a Social Security beneficiary is entitled to 100% of their calculated retirement benefit — neither reduced for early claiming nor eligible for delayed retirement credits.

The gradual increase of the FRA from 65 to 67 was originally enacted in the Social Security Amendments of 1983, phased in over four decades, and 2026 represents the completion of that transition.

By November 2026, the FRA will officially reach 67 for those born in 1960, marking the end of the scheduled phase-in. For anyone born in 1960 or later — which includes every worker currently under age 66 — the full retirement age is now definitively 67. This is described by Social Security policy analysts as a landmark milestone: the program’s new normal.

The gradual phase-in is complete, and there are currently no legislatively scheduled future increases to the FRA beyond 67, though policy debates about further increases continue in the context of Social Security’s long-term financial sustainability.

Key Insight: Workers born in 1960 or later face a 30% permanent benefit reduction if they claim at 62, and can earn a 24% permanent benefit increase by waiting until 70. The difference between claiming at 62 versus 70 — on a $2,000/month full benefit — is roughly $1,080 per month, or $12,960 per year, for life.